Debt. Nobody wants to be in debt. Sure, some may say that it is impossible to not incur debts. But think about it, as long as you have debts to pay off, financial independence is impossible. Building a savings account will be very difficult, in fact it may take a long time to accumulate enough savings if most of what you earn will only go to paying off debts.

I have never used a credit card. I have never even tried applying for one. Although some people may say how convenient it is to have a credit card during emergencies, I still stick to debit card. I don’t have a lot of savings, but as much as possible, I try not to be in further debt.

I have nothing against credit cards, it’s just that it is so easy to be tempted to splurge in a shopping spree that I can’t really afford, right?

What about you? Do you avoid credit cards like a plague or are you one of those who find convenience in them, even if it means paying more than you really want (i.e. interest rates and other fees)?